Mobileye stock will soon make its public debut when shares of MBLY undergo an initial public offering () tomorrow.
To get investors ready for the Mobileye IPO, we’ve got all of the latest details they need to know about below!
- First up is the price of the IPO, which will likely value 41 million shares of MBLY stock between $18 and $20 each.
- If it reaches that higher number, the IPO will value the company at $16 billion after raising $820 million.
- It’s worth noting that Mobileye is currently owned by Intel (NASDAQ:INTC), which is using the IPO to fund its chip factory plans.
- Investors will also remember that the current valuations for MBLY stock are below what Intel was hoping for earlier this year.
- The company initially expected the offering to value Mobileye at $50 billion; it bought the company for about $15 billion in 2017.
- Intel will continue to hold a majority stake in MBLY, as the IPO will only include 10% to 20% of the shares that the company owns.
- Finally, the Mobileye launch tomorrow will happen one day before Intel’s own earnings report, which isn’t expected to go over well with shareholders.
Traders will want to keep an eye on the Mobileye IPO tomorrow to see how it turns out. It also wouldn’t hurt for investors to keep tabs on INTC stock over the next few days as well.
Investors looking for more stock market news today are in the right place!
InvestorPlace is home to all of the hottest stock stories traders need to know about on Tuesday! Among that is what has shares of Intuitive Surgical (NASDAQ:ISRG), Canopy Growth (NASDAQ:CGC) and Xerox (NASDAQ:XRX) stock moving today. You can get up to speed on all of this at the following links!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.